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Old 05-09-2013, 06:01 PM   #1
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Peter Schiff - Ben Bernanke Has Created a Phony Economy That Will Crash!

Peter schiff disagrees with the Dow's new record and economy growth.

What do you think the future holds for america?

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Old 05-09-2013, 06:09 PM   #2
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We have a future where the underground economy might end up being larger than the above ground one?
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Old 05-10-2013, 01:06 AM   #3
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Originally Posted by jprich16 View Post:
What do you think the future holds for america?
I strongly suspect that America is past the point of no return. So, the America as we have known it, is rapidly ceasing to exist and we are devolving into a third rate third world country.

Originally Posted by Aubuy View Post:
We have a future where the underground economy might end up being larger than the above ground one?
You are assuming that there will be an economy at all. I am not so sure that there will be.
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Old 05-10-2013, 08:35 AM   #4
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The US still has an awful lot of people, some pretty valuable real estate and abundant natural resources. There will be some kind of economy because people will always need to trade labor for goods, and goods for labor. It's the type of currency that is negotiable.
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Old 05-10-2013, 09:25 AM   #5
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...here we go again, "stocks at all time highs". ...as measured with?... Adjusted for inflation? Market cap/Fed balance sheet ratio? DOW/Gold price ratio?

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Old 05-10-2013, 10:22 AM   #6
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I see our potemkin economy teetering on the edge of a very steep cliff. My firm is hanging on by our fingernails and only still exists as a result of federal spending. Truthfully, I miss the old days when I had my own business and built our ship interiors with some buddies of mine for two firms in Miami and Portland Oregon. The hours were fucking brutal, but the pay was fat and the work rewarding.

Now, I see my town deteriorating slowly away as the people become poorer and poorer. Twenty years ago, this area was a solid middle class demographic with fantastic job opportunities. Now, we are a shadow of that town, with failing schools and a massive influx of people who should never have been given a home loan in the first place abandoning homes at a record pace.

The idiots in the MSM keep talking about some recovery or another, but it isn't happening here. Jobs are impossible to find, and with youth unemployment hovering around 25%, crime is on the rise. Domestic violence is spiking across the county and divorce rates are climbing.

No, I think this fucker is going to crash and burn, and the only advantage we will have is that we will have seen it coming a little sooner.
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Old 05-10-2013, 11:28 AM   #7
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Originally Posted by ancona View Post:
I see our potemkin economy teetering on the edge of a very steep cliff. My firm is hanging on by our fingernails and only still exists as a result of federal spending. Truthfully, I miss the old days when I had my own business and built our ship interiors with some buddies of mine for two firms in Miami and Portland Oregon. The hours were fucking brutal, but the pay was fat and the work rewarding.

Now, I see my town deteriorating slowly away as the people become poorer and poorer. Twenty years ago, this area was a solid middle class demographic with fantastic job opportunities. Now, we are a shadow of that town, with failing schools and a massive influx of people who should never have been given a home loan in the first place abandoning homes at a record pace.

The idiots in the MSM keep talking about some recovery or another, but it isn't happening here. Jobs are impossible to find, and with youth unemployment hovering around 25%, crime is on the rise. Domestic violence is spiking across the county and divorce rates are climbing.

No, I think this fucker is going to crash and burn, and the only advantage we will have is that we will have seen it coming a little sooner.
Well at least we all get free healthcare now....
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Old 05-10-2013, 11:41 AM   #8
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It's teetering around here too - despite a record corn crop last year when the rest of the country didn't have one. I've now killed two deer with autos (outside of hunting season of course), and each time it happened, someone rushed out to ask the the deer to eat. Everyone around me is looking to pinch those pennies till they scream.
The usual "only show up for work when they need money" types are begging hard for work. You go out on the main highway here - rt 81, which is an artery for north/south trade on the east coast - and where it used to be 10 fully loaded tractor trailers per car, it's now down to 3-4 and half of them are empty.

My pal that works walmart says EBT time is just going totally nuts, and that there is a large black market in the parking lot just after midnight with people trying to convert food bought on foodstamps into cash for vices and other things they won't cover.
He's seen steaks going for half price (but cash) in the parking lot, for example.

What free healthcare? Is this some new definition of the word "free" of which I was previously unaware?
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Old 05-10-2013, 01:47 PM   #9
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Sorry for the confusion. Nothing is "free". We even pay taxes to keep our air "clean" from carbon dioxide which is a byproduct of breathing. I hear similar stories of people really struggling to get by right now. It doesn't match with what the media wants us to believe.

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Old 05-10-2013, 02:28 PM   #10
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No confusion Au - I was joking with an old Hitchikers Guide reference.

Most of the CO2, you must realize, doesn't come from breathing, or at least not human breathing (termites are a big one, though). It's fossil fuels....but I think those who make the mess should be the ones paying for it, not people who choose not to make that mess, eg all taxpayers. I've got a real low carbon footprint, personally - not due to any greenie philosophy, just cheapness. It's cheaper to drive an electric car once you have all that solar power. I live in a nature preserve, not because I'm fanatic about that - I'm just too lazy to re-clear it all and farm it. I heat with deadfall wood - from my place - that would be turned back into CO2 anyway via termites and fungus. I might as well get the heat!

I'm personally glad the EPA shut down the worst polluting coal plants in Ohio, since the jet stream used to bring all that crap to me, even though I don't use grid power, I "paid" - in rainwater I couldn't drink and trees dying. Now my rain is so pure, when I sent off a sample, the guys thought I was playing a joke on them and sent them distilled water.

And yes, sadly, there's nothing free I know of, and when people want to tax "those other people" they don't seem to realize it's all coming home to themselves no matter what.

What concerns me about health care (well, there's a lot of things more) is that for the last 10-20 years, no one I know who has gone into the biz cites wanting the heal people, just have a stable job that pays high. In fact, it's hard to find a good doctor at all - there are some, and they aren't the high priced ones either. You can find them at the free health care faires the county sometimes puts on - they volunteer for no money at all. The percentage of good doctors there is far higher than at any for-profit hospital or HMO.

Trouble is, we have lawyers writing laws that profit lawyers, or in this case insurance companies writing laws that profit them, and passed by lawyers.
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